证券日报网讯希荻微11月26日在互动平台回答投资者提问时表示，自2021年起，公司锂电池充电管理芯 片、端口保护及信号切换芯片等各类产品已进入谷歌的供应链体系，广泛应用于谷歌的移动智能终端设 备，涵盖手机和笔记本电脑，对业绩的贡献请以定期报告披露数据为准。 ...

每经AI快讯，11月26日，希荻微在互动平台表示，自2021年起，公司锂电池充电管理芯片、端口保护 及信号切换芯片等各类产品已进入谷歌的供应链体系，广泛应用于谷歌的移动智能终端设备，涵盖手机 和笔记本电脑。 ...

Core Insights - Xi Di Micro celebrated its 13th anniversary and the topping-out ceremony of its new headquarters in Foshan, emphasizing its commitment to deepening its industry presence and aiming for greater heights [1][2] - The company has established a diverse product matrix in the analog chip sector, breaking the long-standing foreign monopoly and gaining international recognition for its technology and product compatibility [1] Company Overview - Founded in 2012 in Foshan, Xi Di Micro has focused on the analog chip field for 13 years, developing a range of products including DC/DC chips, lithium battery management chips, port protection and signal switching chips, as well as autofocus and optical stabilization chips [1] - The company has successfully commercialized its first switch charging chip in 2014 and has since expanded its product offerings [1] - Xi Di Micro's client base includes leading global mobile brands such as Samsung and Xiaomi, as well as renowned automotive manufacturers like Audi and Hyundai Kia, creating a diversified customer system across consumer electronics and automotive electronics [1] Strategic Goals - The new headquarters will serve as an innovation base, integrating functions such as technology research and development, mass production testing, operational management, and an integrated circuit innovation center [2] - Xi Di Micro aims to leverage the advantages of the Guangdong-Hong Kong-Macao Greater Bay Area for industrial collaboration and talent acquisition, positioning itself as a showcase for the integrated circuit industry in Foshan and the Greater Bay Area [2] - The company plans to continue focusing on technological iteration and product innovation in the analog chip sector to accelerate high-quality development [2]

Core Viewpoint - Halo Microelectronics Group Co., Ltd. reported significant growth in revenue for the first half of 2025, with a 102.73% increase compared to the same period last year, driven by rising demand for high-performance power management chips and the expansion of its product lines [3][4]. Company Overview and Financial Indicators - The company is a leading semiconductor and integrated circuit design enterprise in China, focusing on the research, design, and sales of analog integrated circuits and mixed-signal integrated circuits, including power management chips and signal chain chips [6][11]. - For the reporting period, the company achieved operating revenue of approximately 466.45 million yuan, compared to 230.09 million yuan in the same period last year [4]. - The net loss attributable to shareholders narrowed to approximately 44.69 million yuan from 117.54 million yuan year-on-year, indicating improved operational efficiency and cost control [4][5]. Industry Context - The integrated circuit industry is experiencing rapid growth due to advancements in AI, 5G communication, IoT, and autonomous driving technologies, which are driving innovation and upgrades within the sector [6]. - The global analog chip market is projected to exceed $100 billion by 2025, with a compound annual growth rate of 5.1% [6]. - China's integrated circuit industry, despite its late start, is becoming a major driver of global growth, supported by strong market demand and favorable policies [6]. Main Business Operations - The company’s product offerings include DC/DC chips, lithium battery charging management chips, port protection and signal switching chips, and voice coil motor driver chips, which are widely used in consumer electronics and automotive applications [6][8][9]. - The company has successfully integrated its products into the supply chains of major global brands such as Samsung, OPPO, and Xiaomi, enhancing its market presence [8][9]. Research and Development - The company invests significantly in R&D, with R&D expenses accounting for 28.65% of operating revenue, although this represents a decrease from the previous year due to increased revenue [4][5]. - The company is focusing on expanding its chip applications in AI and enhancing its product offerings to meet the growing demands of the market [6][11].

Investment Rating - The report gives a "Strong Buy" rating for the company, with a target price of 17.91 CNY based on a 7.5x P/S ratio for 2025 [2][11]. Core Insights - The company is a leading domestic analog chip design firm, focusing on power management and signal chain chips, and has established a dual-driven model in consumer electronics and automotive electronics [5][15]. - The analog chip industry is approaching a turning point, with inventory destocking nearing completion, indicating a potential recovery in the market [5][46]. - The company has been actively expanding its business through acquisitions, including exclusive rights to Korean technology and stakes in other firms, enhancing its product offerings and market position [5][11]. Summary by Sections Company Overview - Founded in 2012, the company initially focused on power management chips and has since expanded into signal chain chips, establishing a dual-driven model in consumer and automotive electronics by 2021 [5][15]. - The company has a concentrated shareholding structure, with key management having extensive industry experience [30][34]. Industry Outlook - The analog chip industry has been in a downturn since Q4 2022, but signs of recovery are emerging as major players like Texas Instruments and Analog Devices report revenue growth [5][46][51]. - The domestic market for analog chips is expected to benefit from a shift towards local suppliers, with a projected self-sufficiency rate of only 16% in 2024 [5][46]. Business Strategy - The company is leveraging its core power management chip business while expanding into new product lines, including audio motor driver chips and other innovative solutions [5][8][10]. - Recent acquisitions, such as the stake in Zinitix and the planned acquisition of Chengxin Micro, are aimed at enhancing the company's product matrix and competitive edge [5][11][20]. Financial Projections - The company is projected to achieve revenues of 9.80 billion CNY in 2025, with a gradual increase to 15.88 billion CNY by 2027, alongside a return to profitability by 2026 [6][11]. - The financial outlook reflects a significant recovery from previous losses, with expectations of narrowing losses in the near term [6][36].

Core Viewpoint - The company, a leading semiconductor and integrated circuit design enterprise in China, has proposed a profit distribution plan for 2024 that includes no cash dividends, no bonus shares, and no capital reserve conversion due to a negative net profit for the year [5][27][29]. Company Overview - The company specializes in the research, design, and sales of analog integrated circuits and mixed-signal integrated circuits, focusing on power management chips and signal chain chips [5][10]. - The main products serve consumer electronics and automotive electronics, including DC/DC chips, lithium battery charging management chips, port protection and signal switching chips, power conversion chips, and voice coil motor driver chips [5][6]. Business Development - The company acquired a controlling stake in the South Korean chip design company Zinitix, adding a sensor chip product line [5][10]. - The company has launched customized DC/DC chip products for silicon anode batteries, contributing significantly to revenue [6][10]. - The automotive electronics sector is a key focus, with the company supplying automotive-grade DC/DC chips to major global automotive manufacturers [19][20]. Industry Position - The company is recognized as one of the leading suppliers of power management and signal chain chips in China, competing effectively with both domestic and international brands [18][19]. - The integrated circuit design industry is characterized by high technical barriers and significant capital requirements, with a growing demand for analog chips in various applications [11][13]. Market Trends - The global analog chip market is projected to reach $84.1 billion in 2024, with a year-on-year growth of 3.7% [14]. - The Chinese analog chip market is expected to grow to 366.73 billion yuan by 2026, driven by increasing domestic demand and favorable policies [15][16]. - The automotive chip market is anticipated to expand significantly, with the value of chips per vehicle expected to reach $700 by 2026 [19]. Future Development - The company plans to enhance its product offerings in power management, port protection, and signal switching, while also expanding into automotive electronics and communication sectors [22][24]. - The trend in the analog integrated circuit industry is shifting towards high efficiency, low power consumption, and increased integration, with a focus on high-performance applications [23].